Putin seeks to develop economic ties with The Netherlands

Rutte was invited to the forum
as guest of honor. Putin and Rutte have addressed the main issues of the
bilateral agenda while focusing on the prospects for commercial and economic
cooperation and implementation of the agreements reached during Putin’s working
visit to the Netherlands in April 2013.

The
precarious state of the global economy has encouraged Russia and The
Netherlands to develop trade and economic ties along with joint
projects, according to President Vladimir Putin.

"We are carrying out a
large number of large projects together. It's always important, but it is even
more important in the current situation in the world economy," Putin said.

For his part, Rutte said that his
country is one of Russia's largest trading partners in Europe, while Russia is
among the Netherlands' three biggest trading partners.

Rutte said that while the two countries
traditionally cooperate in the sphere of agriculture and energy, "we want to develop cooperation in other areas too."

The Netherlands is one of
Russia’s biggest foreign trade partners; it's the biggest trade partner in
Europe and the second-biggest (in terms of volume) two-way trade partner
globally after China. In 2012, two-way trade went up by more than 20 percent
year-on-year to a new record high of $82.7 billion.

By the end of the first
quarter of 2013, the Russian economy had accumulated $63 billion in Dutch
investments, including about a third in Federal Direct Investments. Russian
investments in the Netherlands are estimated in excess of $30 billion.

The energy sector is
traditionally a priority area for relations between Russia and the Netherlands.
In 2012, Russia supplied 2.9 billion cubic meters of natural gas to the
Netherlands.

Much of Russia’s crude oil exports go to the international market through
Dutch seaports and some of the largest Russian oil companies are tied to the
Netherlands in other ways.

Related:

Gazprom and Dutch Gasunie are currently
collaborating closely on the Nord Stream project, building Bergermeer (the largest
natural gas storage facility in Europe) and fostering scientific and
technological cooperation.

The Russian oil giant is also working with the Dutch
Shell to implement the Sakhalin-2 project and the two are eyeing joint
operations on other deposits in Russia and abroad. Lukoil is also vested in The
Netherlands having acquired an oil refining facility operating 46 filling
stations there.

Meanwhile, Shtandart, a joint Russian-Dutch company, is
launching construction of an oil terminal at the port of Rotterdam, which will
be capable of handling Russian Urals oil, among other blends.

The SPIEF is taking place from June 20-22. The
main plenary session will be held on June 21. The SPIEF program focuses on the global growth
agenda, Russia’s new horizons and new catalysts to change. Because of Russia’s
presidency in the G20 this year, the forum will also feature a Business 20
summit.